Real Estate 101: How to Score a Bargain Property
Let’s face it – every reasonable home buyer out there wants a home that is both a steal and a masterpiece. A home that they can love for years to come. The reality is that home sellers want to score a bargain for themselves as well; their home is precious, and they want to be paid accordingly. Accordingly, buyers have to be wary and try to find a way to bring down the price to a level to which they are comfortable. The price of the real estate needs to reflect it’s true value on the market, while still staying on the radar of potential buyers.
With that being said, buyers do have a natural tendency to look for bargaining points when looking at a home. Is the home outdated? Is there structural damage? By finding potential weak spots, potential buyers (rightfully) know that the asking price is at least up for discussion. Some of the prime spots to look for shortcomings of the real estate are inside the house in the kitchen and the bathrooms. As those two sets of rooms are constantly subjected to steam and water, edges and corners of the room can easily start showing moldy spots that aren’t instantly visible. Carefully looking for such spots to point out to the owners and their realtor can help renegotiate the asking price to one that the owners and potential buyers are more comfortable with.
The kitchen in particular, offers another way of looking for leverage to lower the asking price. The appliances that usually come with the kitchen – the refrigerator, oven, and dish washer – often show signs of wear and tear before many other parts of the house. Finding damages or outdated appliances can greatly help renegotiate the price and getting a better deal for the property in order to replace the appliances and fix all of the other little problem areas of the house.
Bottom line: when looking for a home, pay attention to the details. This can be the key to getting the home you want at a price you can afford.